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The following information applies to the questions displayed below.]On June 30, Sharper Corporations stockholders' equity...

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Accounting

The following information applies to the questions displayed below.]On June 30, Sharper Corporations stockholders' equity section of its balance sheet appears as follows before any stock dividend or split. Sharper declares and immediately distributes a 50% stock dividend.Common stock$10 par value, 78,000 shares issued and outstanding$ 780,000Paid-in capital in excess of par value, common stock340,000Retained earnings730,000Total stockholders equity$ 1,850,000Assume that instead of distributing a stock dividend, Sharper did a 3-for-1 stock split.(1) Prepare the updated stockholders' equity section after the split.(2) Compute the number of shares outstanding after the split.

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